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Freeport up on strong 3Q financials

A 28% surge in the average gold price Freeport-McMoRan (FCX) received during the three months ended September 30, and results of company-wide cost-cutting, lifted the company's profit above expectations and sent its shares to a new 12-month high on Thursday.

Freeport up on strong 3Q financials Freeport up on strong 3Q financials Freeport up on strong 3Q financials Freeport up on strong 3Q financials Freeport up on strong 3Q financials

Freeport-McMoRan has reported strong financial results for the September quarter

The Phoenix, Arizona-based company received US$1,902/oz for gold sold as quarterly sales improved 7% year-on-year to 234,000oz, reflecting higher grades milled at Grasberg in Indonesia, where the